Semtech, a Newbury Park semiconductor company, reported a profit of $21,000, or 1 cent a share, in its fourth quarter ended Feb. 1 after losing $1.3 million, or 73 cents a share, in the same quarter last year. The company cited cost cutting and reduced inventories for the improvement.
Sales were up 39% to $3.4 million.
Semtech also announced sharply improved yearlong results. Losses were slashed to $866,000, or 47 cents a share, from $4.0 million, or $2.17 a share, in the prior year. Sales rose 18% to $13.0 million.
Jack Poe, Semtech's president, said the company, which has suffered from the industrywide slump in semiconductor sales, reduced its loss for the fiscal year through layoffs, reduced raw materials purchases and other cutbacks. He said sales were up because the company was able to solve manufacturing problems and thus fill overdue back orders.